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Platinum sector wage agreement credit positive for South Africa – Moody's

By: Reuters     8th November 2016 South Africa's chances of avoiding a credit rating downgrade will be boosted by recent wage agreement between mine workers and the platinum sector's largest producers, ratings firm Moody's said on Monday. "The agreement is credit positive for both South Africa and platinum mining companies... 

Amplats, AMCU sign three-year wage agreement

By: Anine Kilian     28th October 2016 Platinum producer Anglo American Platinum (Amplats) on Friday announced that it has signed a three-year wage agreement with trade union, the Association of Mineworkers and Construction Union (AMCU), retrospectively effective from July 1. The agreement has also been extended to the National Union... 

Ferrochrome price in sharp rise

By: Martin Creamer     26th September 2016 The European benchmark ferrochrome price for the fourth quarter of 2016 has been settled at 110c a pound, 12.2% up on the 98c-a-pound price of the third quarter. Johannesburg Stock Exchange-listed Merafe Resources said last month that it expected to benefit from renewed positive ferrochrome... 

SA’s cost-of-doing-business ranking badly down – Chamber

By: Martin Creamer     20th September 2016 South Africa has plummeted to an abysmally low level in the World Bank’s 160-country cost-of-doing-business rankings. On the bank’s Doing Business scale, which measures the fitness of a country’s economy to grow and compete, South Africa has tumbled 15 notches since 2007, from position number 58,... 

Amplats takes another step towards fuel cell realisation

By: Martin Creamer     15th September 2016 In the latest step towards the potential adoption of zero-emission fuel cell technology on a large scale, platinum mining company Anglo American Platinum (Amplats) on Thursday announced an investment in a company engaged in small-scale gas-to-liquids technology that converts flare gas, natural... 

Platinum miner says mechanisation, modernisation is only way forward  

By: Ilan Solomons     13th September 2016 To remain relevant in the South African mining industry, mines will have to substantially change how they operate and Anglo American Platinum (Amplats) mining head Frik Fourie does not see any future for conventional mining methods in South Africa. “Conventional mining methods are no longer a... 

On-The-Air (02/09/2016) 

By: Martin Creamer     2nd September 2016 CEOs warned this week that platinum mining is going to ‘drop off a cliff’ because of huge under investment.The CSIR warned this week that mining needs a major change of mining method to survive. Chrome mining is become strategic for the platinum mining industry. 

Significant changes to South African mining methods required – Hermanus

By: Ilan Solomons     31st August 2016 If there is no substantial change in the mining methods used in South Africa, gold and platinum mining could cease in 2033 and 2029, respectively, Council for Scientific and Industrial Research Natural Resources and Environment unit executive director Mavis Ann ‘May’ Hermanus warned on Wednesday.... 

Chrome output becoming ‘strategic’ for Northam Platinum 

By: Martin Creamer     29th August 2016 Chrome ore is becoming increasingly strategic for platinum mining company Northam Platinum. The Johannesburg Stock Exchange-listed company, which produced 45.1% more chrome in the 12 months to June 30 than the prior year, expects to be producing at a rate of one-million tonnes of chrome ore a... 

Platinum council backs Japan’s ‘Fruit of Platinum’ sweet spot

By: Martin Creamer     7th July 2016 Following May’s move to boost platinum bar and coin availability globally, the World Platinum Investment Council (WPIC) on Thursday threw its promotional weight behind investors in Japan’s flourishing ‘Fruit of Platinum’ exchange traded fund (ETF). The tie-up is the latest in a series of... 

ISS recommends shareholders vote for incumbent Eastplats board

By: Henry Lazenby     22nd June 2016 Eastern Platinum (Eastplats) has reported that independent proxy advisory firm Institutional Shareholder Services (ISS) had recommended that shareholders vote to keep the incumbent Eastplats board, amid a heated proxy contest. Hong Kong-based company Ka An Development, which had acquired a 13.79%... 

Bright interims, better output lift Lonmin share price

By: Martin Creamer     16th May 2016 The share price of platinum mining company Lonmin rose sharply on Monday on net cash generation, higher platinum sales and the expectation of platinum demand from the automotive and chemical sectors remaining firm. Lonmin’s share price rose 17.57% to R42.56 a share in early JSE trade after Lonmin... 

Amplats refined platinum output halved

By: Martin Creamer     21st April 2016 The refined platinum production of platinum mining company Anglo American Platinum (Amplats) halved in the three months to March 31, when metal-in-concentrate output rose 4% . Refined production plummeted 52% to 261 000 oz on a Section 54 work stoppage that closed the Precious Metals Refinery for... 

Sibanye investing R3.9bn in gold mines

By: Martin Creamer     20th April 2016 Mining company Sibanye Gold is forecasting a capital expenditure of R3.9-billion ($250-million) on its gold assets in its 2016 financial year. Sibanye CEO Neal Froneman told the European Gold Forum in Zurich on Wednesday that capital investment of R1.6-billion ($115-million) had been approved... 

Sibanye reshuffles to bring platinum, energy into pack

By: Martin Creamer     18th April 2016 Gold-mining company Sibanye has revised its organisational structures in anticipation of imminent entry into platinum mining. As it becomes a multi-commodity business, Sibanye headed by CEO Neal Froneman will be restructured into separate, commodity specific divisions focused on operational... 

Innovative power generation projects share award

By: Simon Sonnekus     15th April 2016 To encourage the innovation of a system that generates and transmits power independently, this year’s African Energy Awards, held in Sandton, Gauteng, last month, awarded the innovation prize to a urine-powered battery system and an Eternity power thermal harvesting project. Menlopark high... 

RBPlat puts losses behind it with sturdy quarterly performance

By: Martin Creamer     14th April 2016 January 1 to March 31 has proved a solid three months for Royal Bafokeng Platinum (RBPlat). The Johannesburg Stock Exchange-listed platinum mining company, controlled by the 100 000-strong Bafokeng community, used operational flexibility, stability and strategy to put the headline-per-share... 

Very positive long-term outlook for platinum – Hinkly

By: Martin Creamer     8th February 2016 The outlook for platinum demand in the next five years is very positive, Anglo American Platinum executive head marketing Andrew Hinkly said on Monday. Speaking at the 2016 Investing in African Mining Indaba, Hinkly said that the continued requirement for clean vehicle emissions would continue... 

Mines body sees bleak 2016 for Zim mining

By: News24Wire      11th January 2016 The Chamber of Mines of Zimbabwe (COMZ) is anticipating little improvement in production and prices for most metals mined in the country, despite an easing in power supplies after Zimbabwe inked a deal to import power from Eskom. Following media reports in Zimbabwe that the power import deal... 

Call to action for review of crippling Davis tax proposals 

By: Martin Creamer     22nd October 2015 The South African mining industry has until October 31 to comment on the first round of recommendations of the Davis Committee on Tax, several of which are seen as having the potential to fundamentally change South Africa’s mining landscape for the worse. Many commentators are suggesting the... 

Union mine sale restarted, offer in for Pandora – Amplats

By: Martin Creamer     10th September 2015 Platinum mining and refining company Anglo American Platinum (Amplats) had recommenced the process to dispose of its Union Mine and an offer had been received for its interest in the Pandora Platinum joint venture. “We didn’t get to a landing on a sale with the partners we were talking to,”... 

Strategic partnership geared to achieve midtier status

By: Dylan Stewart     4th September 2015 Platinum group metals (PGM) mining company, Wesizwe Platinum, whose anchor project is the Bakubung platinum mine, in the North West, aims to become a significant midtier multicommodity mining company, says Wesizwe CEO Jianke Gao. 

Implats shares fall on R4bn equity raising plans 

By: Martin Creamer     3rd September 2015 The share price of mining company Impala Platinum (Implats) first fell heavily and then recovered considerably after the company announced plans to raise R4-billion equity capital in an accelerated bookbuild. Reporting 58% lower earnings a share to 36c in the 12 months to June 30, in spite of key... 

1 000 platinum-powered Hyundais in UK this year – Amplats 

By: Martin Creamer     25th May 2015 Fuel cell electric vehicles will allow platinum mining to build its future in a truly sustainable way on the back of zero exhaust emissions and the use of the world’s endless supply of hydrogen as a fuel source, Anglo American Platinum (Amplats) CEO Chris Griffith has told Platinum Week 2015 in... 

Power problems offering platinum huge demand opportunity  

By: Martin Creamer     2nd April 2015 The electricity crisis is offering South Africa’s demand-hungry platinum mining companies a major opportunity to stimulate the offtake of platinum. State power utility Eskom’s loadshedding programme is elevating power-generating fuel cell technology - with platinum at its heart - to a new... 

Zim platinum export tax puzzles Aquarius, Implats

By: Natalie Greve     30th January 2015 A platinum export levy announced by the Zimbabwe government in 2013 remains mired in uncertainty, after the planned deferral of the tax to 2017, was not provided for in the country’s 2015 Finance Bill, gazetted on January 9. Platinum majors Impala Platinum (Implats) and Aquarius Platinum – both... 

Impala Platinum selling shares to workers in R1.1bn deal

By: Martin Creamer     11th December 2014 South Africa’s second-largest platinum mining company is selling shares in the company’s primary operational subsidiary to employees in a R1.1-billion deal. The JSE-listed Inplats said on Thursday that it had concluded a vendor-financed equity transaction with Impala Platinum Limited, which owns... 

Mineworker numbers set to fall 8% a year – Teba 

By: Martin Creamer     3rd December 2014 The number of mineworkers employed in gold mining and platinum mining in South Africa is expected to decline by about 8% a year in the next two years, says Teba Limited CEO Graham Herbert. Herbert, who spoke to Mining Weekly Online in the attached video interview, says his company – which is... 

Aug PMI rebounds, but remains below key 50-pt level

By: Natalie Greve     1st September 2014 The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) rose by 3.1 index points to 49 in August, signalling a return to more normal manufacturing output levels following months of production disruptions owing to industrial action in the platinum mining and the metals and engineering... 

Union leader speaks on labour alignment at Royal Bafokeng Platinum 

By: Martin Creamer     8th August 2014 The alignment of labour with company objectives at the black-owned and black-led Royal Bafokeng Platinum (RBPlat) is proving mutually beneficial for mineworkers and management. National Union of Mineworkers (NUM) branch chairperson Papi Moteti, who spoke to Mining Weekly Online in a video... 

Stable Royal Bafokeng Platinum lifts production, revenue, earnings

By: Martin Creamer     5th August 2014 Black-controlled platinum mining company Royal Bafokeng Platinum (RBPlat), which managed to maintain operational stability in a sector wracked by violent strikes, on Tuesday reported increased production, revenue and earnings. Production rose 3% to 134 229 platinum group metal (PGM) ounces,... 

PMI contracts for fourth consecutive month on strikes

By: Natasha Odendaal     1st August 2014 The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) has contracted for the fourth consecutive month, signalling the manufacturing sector’s continued subpar performance. The index “expectedly” fell from 46.6 in June to 45.9 index points in July, owing to the month-long National Union... 

Focus on fully mechanised systems rather than retrofits, advises consultant

By: Leandi Kolver     16th July 2014 South Africa’s platinum mining sector would benefit more from implementing fully mechanised systems, rather than retrofitting existing systems or making use of hybrid systems, Tomahee Consulting senior consultant Alastair Macfarlane said on Wednesday. Speaking at the Southern African Institute of... 

Platinum companies considering AMCU’s latest wage proposal

By: Martin Creamer     4th June 2014 South Africa’s three biggest platinum-mining companies will resume a Ministerial meeting on Thursday after considering the latest unpublished wage proposal of the Association of Mineworkers and Construction Union (AMCU). New Mineral Resources Minister Advocate Ngoako Ramatlhodi said AMCU had... 

Platinum producers refute AMCU tax, wage evasion claims

By: Leandi Kolver     30th May 2014 Platinum miners Anglo American Platinum (Amplats), Impala Platinum (Impats) and Lonmin on Thursday strongly refuted allegations by Association of Mineworkers and Construction Union (AMCU) negotiator Brian Ashley that the platinum mining companies “might be guilty of tax and wage evasion”. Ashley... 

$100m Zimplats refinery refurbishment to start in July

By: Leandi Kolver     23rd May 2014 Zimbabwe-based platinum producer Zimplats, in conjunction with platinum mining companies Mimosa and Unki, would start the refurbishment of Zimplats’ Selous-based base-metal refinery (BMR) by July this year and recommission the facility over a 24-month period, Zimplats CEO and Zimbabwe Chamber of... 

Platinum execs without incentive pay since 2008 – Griffith

By: Martin Creamer     13th May 2014 Most executives in platinum mining had not received long-term incentive pay for the last six years because of the poor state of the industry, Anglo American Platinum (Amplats) CEO Chris Griffith said on Tuesday. Questioned by Radio 702 talk-show host John Robbie on his reported salary of... 

Chamber condemns ‘brutal’ murder of platinum mineworkers

By: Martin Creamer     13th May 2014 The Chamber of Mines of South Africa on Tuesday condemned “in the strongest terms” the “brutal” murder of two mineworkers in the Rustenburg area. This denunciation follows the condemnation of acts of violence against employees intent on returning to work by South Africa’s three major platinum... 

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